IPC has paid out £138 million in compensation to date

IPC has paid out £138 million in compensation to date

The Immovable Property Commission (IPC) has paid over 138 million pounds sterling in compensation to Greek Cypriots who have made claims against properties they once owned in the North but abandoned during the 1974 Turkish Peace Keeping Mission.

Speaking in an interview by Turkish Cypriot daily ‘Halkin Sesi’ with Gungor Gunkan, chairman of the IPC, he said that currently, they have around 5,400 applications to deal with and added that the number of applications is continuously increasing.

According to Gunkan, only 569 out of the above-mentioned claims have been concluded. He said that 671 of those applications which concern properties in Maras are currently on hold. He noted that the IPC is telling those who apply for their property in Maras/Varosha that the status of Maras is dependent on and part of a comprehensive solution to the Cyprus problem.

He added that in the beginning, the original property owners had been visiting the Commission, but now they are passing away and their heirs have started to come along. He noted that the younger claimants are saying that they do not even know where their property is and that they only want to get their compensation and be done with it.